Peru Trade Balance August 2021

Peru

Peru: Merchandise exports gain steam in August

October 7, 2021

Merchandise exports increased 45.0% annually in August, rising from July’s 33.3% rise. August’s reading marked the 12th consecutive month of rising exports, although once again the reading was in part influenced by a low base effect. Meanwhile, merchandise imports soared 49.4% over the same month last year in August (July: +47.7% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 1.1 billion surplus in August (July 2021: USD 0.9 billion surplus; August 2020: USD 0.9 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 12.8 billion surplus in August, compared to the USD 12.5 billion surplus in July.

Panelists participating in the LatinFocus Consensus Forecast project that exports will surge 24.8% in 2021 and imports will rocket 21.4%, bringing the trade surplus to USD 11.4 billion. For 2022, FocusEconomics panelists expect exports to expand 4.2%, while imports are projected to rise 5.7%, bringing the trade surplus to USD 11.2 billion.


Author:, Economist

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Peru Trade Balance Chart


Peru Trade12m August 2021

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Peru Central Bank (BCRP).


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